AltaGas (TSE:ALA) Given New C$51.00 Price Target at National Bank Financial

AltaGas (TSE:ALA) had its price objective increased by National Bank Financial from C$50.00 to C$51.00 in a research note published on Monday morning,BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock.

A number of other brokerages also recently commented on ALA. Canadian Imperial Bank of Commerce boosted their price objective on AltaGas from C$47.00 to C$50.00 in a research report on Wednesday, December 17th. JPMorgan Chase & Co. raised their target price on shares of AltaGas from C$45.00 to C$47.00 in a report on Wednesday, December 3rd. Scotiabank lifted their price target on shares of AltaGas from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday. ATB Cormark Capital Markets boosted their price target on shares of AltaGas from C$49.00 to C$52.00 and gave the stock an “outperform” rating in a report on Monday. Finally, TD Securities increased their price objective on shares of AltaGas from C$48.00 to C$51.00 and gave the company a “buy” rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$49.89.

AltaGas Trading Up 3.2%

TSE:ALA opened at C$47.78 on Monday. AltaGas has a 12-month low of C$35.33 and a 12-month high of C$48.32. The firm has a market cap of C$14.86 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of -4.97 and a beta of 0.49. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 126.46. The stock has a fifty day moving average price of C$43.07 and a 200 day moving average price of C$42.47.

AltaGas (TSE:ALA) last issued its quarterly earnings results on Friday, March 6th. The company reported C$0.77 earnings per share for the quarter. The company had revenue of C$3.29 billion for the quarter. AltaGas had a return on equity of 8.78% and a net margin of 6.15%. Sell-side analysts anticipate that AltaGas will post 2.3006093 earnings per share for the current fiscal year.

AltaGas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, December 16th. AltaGas’s dividend payout ratio is currently 49.90%.

AltaGas News Summary

Here are the key news stories impacting AltaGas this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to C$50 and kept an “outperform” rating, signaling confidence in AltaGas’s outlook. BayStreet.CA
• Positive Sentiment: National Bank Financial boosted its target to C$51 and maintained an “outperform” call, adding further upward pressure. BayStreet.CA
• Positive Sentiment: TD Securities raised its target to C$51 and kept a “buy” rating, reinforcing consensus bullishness among Canadian brokers. BayStreet.CA
• Positive Sentiment: ATB Cormark Capital Markets lifted its target to C$52 with an “outperform” rating, one of the higher raises in this wave. BayStreet.CA TickerReport
• Positive Sentiment: Scotiabank increased its target to C$52 and maintained an “outperform” view, contributing to the broad-based analyst support. BayStreet.CA
• Positive Sentiment: Jefferies raised its target to C$53, the highest among the recent updates, suggesting roughly double-digit upside vs. recent levels. BayStreet.CA
• Neutral Sentiment: Media coverage noted AltaGas’s recent quarterly profit increase, which underpins the analyst optimism but is already reflected in prior earnings releases. MSN: Market open

AltaGas Company Profile

AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through four segments: Midstream, power, utilities and corporate. Utility business owns and operates rate-regulated natural gas distribution assets across North America. Midstream business subsequent to the sale of non-core midstream assets in Canada and also engaged in the natural gas liquid processing and extraction, transportation, and storage. Natural gas is sold and purchased for both commercial and industrial users.